Dunamu and Naver Financial delay stock-swap deal to March 2027

The marriage between South Korea’s biggest crypto exchange operator and one of the country’s largest tech groups has a new wedding date. Again. Dunamu, which runs the Upbit exchange, and Naver Financial have pushed the closing of their share-swap deal to March 31, 2027. That makes this the third postponement of a transaction first announced in November 2025. The companies made the announcement on October 7, 2026. The previous target was December 31, 2026, so the deal has now slipped by another quarter. What changed, and what didn’t The new timeline comes with a reshuffled calendar. Extraordinary shareholder meetings have moved to February 26, 2027. The record date, which determines which shareholders get to vote and participate, now sits at January 18, 2027. The window for shareholders to exercise appraisal rights runs from February 26 to March 18, 2027. Appraisal rights matter here. They let shareholders who oppose the deal demand that the company buy back their shares instead of accepting the swap. One thing stayed put: the price. The exchange ratio remains fixed at 2.5422618 Naver Financial shares for every Dunamu share. The structure is a comprehensive share swap. Once complete...